DCE Live Hog Futures Market News and Commentary
Bean futures rallied initially at the 8:30 open to close the overnight gap, but immediately fell back for double digit losses at midday. Jan prices are trading 18 cents in the red so far, holding 7c above the $13 mark. out. Soymeal futures are currently trading $2.80 to $4/ton in the red. Soybean Oil futures are down by 11 points through midday.
USDA flashed a 183k MT soymeal sale to the Philippines this morning via the daily reporting system.
Weekly Inspections data had 1.108 MMT of soybeans shipped during the week that ended 11/30. That was down from 1.57 MMT last week and below the 2.08 MMT shipped during the same week last year. USDA also added over 1.58 MMT of bean shipments to past reports, leaving the season’s total at 18.692 MMT as of 11/30. That trails last season’s 21.669 MMT pace.
StasCan reported Canadian canola output at 18.33 MMT. That compares to 18.7 MMT last year and the average trade guess of 18.3 MMT. USDA’s WAOB has a 17.8 MMT crop dialed in... Read more